PTT Synergy explores automated warehousing and total intralogistic solution opportunities in Southeast Asia
16 Jun 2023
PTT Synergy Group Bhd (PTTS) is partnering with Oriental Material Handling (Malaysia) Sdn Bhd (OMH) to venture into the automated warehousing and total intralogistic solution segment in Malaysia and Southeast Asia.
In a filing with Bursa Malaysia on Friday (June 16), PTTS said its 70%-owned subsidiary, PTT Logistics Sdn Bhd had formed a strategic alliance with OMH to jointly explore opportunities in Malaysia, Indonesia, Thailand, Vietnam and Cambodia.
Meanwhile, OMH is wholly owned by OMH Science Group Co Ltd, the largest intelligent logistic equipment manufacturer and total intralogistic solutions provider in China.
PTTS said: “Warehouse automation plays a crucial role in driving long-term sustainability by ensuring reduced and efficient energy usage, resulting in lower energy consumption and a smaller carbon footprint. These benefits strongly support the adoption of PTTS’ warehousing and intralogistic total solutions.”
PTTS managing director Teo Swee Phin noted that through PTTS’ comprehensive offerings, companies can optimise their processes, enhance productivity, reap cost savings and gain a competitive advantage in today’s dynamic market.
“With this strategic collaboration with OMH, PTTS will have a stronger foothold in the industrial property segment, paving the way for a broader earnings base,” he added.
The collaboration agreement ensures exclusivity between both parties, preventing direct or indirect participation with any third party in the projects identified for collaboration.
Shares of PTTS were last traded at RM1.04 on June 14, giving it a market capitalisation of RM102.96 million.
Source: The Edge Malaysia